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Why do national income accountants compare the market value of total outputs in various years rather than actual physical volumes of production? What problem is posed by any comparison over time of the market values of various total outputs? How is this problem resolved?
Test the hypothesis that median family income increases as the proportion of the labour force with high school education increases.
Write down the decision box which combines the letter grade and the amount of fun you have into a single payoff for each outcome.
Assume that a very competitive start-up enters the market in direct competition with the oligopoly you described in the e-Activity.
Assume in this market all apartments are identical, so there is only one equilibrium rent. Show the rent as $800 per month.
Assume an economy produces only pizza also jeans. If some resources are unique in the construction of either pizzas or jeans.
Supposre that there are equal numbers of each customer type, and that the MC of the iphone is $100."
both the short run and the long run assuming that the government takes no action in response to the oil price increase.
"The cost of a bushel of wheat, which was $3.00 last month, is $3.70 today. The demand curve for wheat must have shifted rightward in last month and today." Discuss
If the government wanted to achieve the same change in GDP as in part 8 by cutting taxes instead of increasing spending, how large would the tax cut need to be.
What government policies are available to reduce domestic demand in the medium run. Identify which components of domestic demand each of these policies affect.
Illustrate what mix of central bank bond purchases also higher government spending is required to rise income by $6,000 without changing the interest rate
Specialty Steel has carefully measured production in its new plant to determine whether it is technically efficient in production.
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